Housing Market Improves
Recent good news about the US housing market suggest that maybe, just maybe, there is life in this key economic sector, after all.
With other parts of the economy now slowing down, like the what was once strong performance in manufacturing, positive signs of improvement in the housing market show that for the first time since 2005 this sector may add to the country's economic growth.
Housing Market News
"The weekend was full of speculation as to the future of the housing market. Optimism was the mood of choice, with all signs pointing to a way out of this long-suffered slump."
" Limited supplies of housing inventory held back existing-home sales in May, but sales maintained a strong lead over year-ago levels and home prices are on a sustained uptrend in all regions, according to the National Association of Realtors®."
"House prices, after falling for more than five years, are rising again. All the major sales-price indexes show that there have been modest national increases in recent months, even after adjusting for seasonal patterns."
"Housing prices rose in most of the country in April, as record low mortgage rates and some of the cheapest housing prices in decades spurred some long-desired home sales, while consumer confidence dropped in June for the fourth straight month as fewer consumers predicted the economy will pick up later this year."
"THERE was much for investors to worry about in the second quarter, but at least real estate was far down the list. Several reports hinted at a recovery in this long-suffering category, and that helped real estate investment trusts — portfolios of various types of property, and traded on stock exchanges — to outperform, along with funds that focus on them."
Related Housing Market News
In related news, with potential to further improve the housing market, there is a move to help consumers get home loans:
"Two federal agencies with far-reaching influence over the mortgage market are working on a problem that could affect the ability of many consumers to obtain a home loan: How to encourage private lenders to ease up on their underwriting restrictions that go beyond what the agencies themselves require for mortgage approvals."